New ponzi scheme emerges, lures participants with 200% ‘interest’

A new ponzi scheme known as Twinkas has emerged, and it is promising prospective participants 200 percent return for their money.

Mavrodi Mondial Moneybox (MMM), the most popular ponzi scheme in Nigeria, paid 30 percent to its members.

MMM investors are fast losing hope in the scheme since it froze withdrawals in December.

It had promised to return on January 14, which it did, but members have not been able to make adequate withdrawals since then.

However, Twinkas said when the donation of a member is confirmed, the system will automatically assign 2 other registered people who will also pay the joining amount each into the bank account of the member.

An information on the company’s website said it was founded by a “team of enthusiastic humanitarian specialists who wanted to overcome the routine and create a platform that would act in the market not only for business success but for the sake of humanitarian and financial empowerment services”.

“When you join, you will need to donate the sum of either N5000, N10000, N20000 or N50000 to a fellow member assigned by the system or your direct link, and the member will then confirm your donation and then the system will automatically assign 2 other registered people under you from spill overs who will also pay you the joining amount each, into your bank account, making 200 percent (i.e. 200 percent of N5000 is N10000, 200 percent of N10000 is N20000 200 percent of N20000 is N40000 and 200 percent of N50000 is N100000),” information on Twinkas website read.

“Twinkas will assign referrals to pay you. After you have received payment from 2 people under you, the system will automatically exit you and allows unlimited registration (your account still remains with Twinkas). All donations are made directly to member bank account.”

Twinkas said it has various categories such as classic, professionals, premium, ultimate and vetreran categories.

It said there are currently 198,985 members in classic, 117,290 in professionals, 117,147 in premium and 170,322 in ultimate categories, but no registered member in the Vetreran.

Twinkas said it had put some guidelines in place and cautioned participants to be keep their phone open and always be online.

“If a sponsors mobile is switched off or not answering calls for about 6 Hours, Twinkas will have that account blocked,” the website said.

“If a sponsor fails to activate his/her referral after receiving payment, Twinkas will have that account and subsequent accounts connected to your bank and mobile number blocked.

“You are advised to have an online banking application on your mobile phone to help facilitate the process. Mobile numbers will be displayed on your dashboard. Please save them and do not receive any call from other lines claiming to have emanated from Twinkas.”